"Participation by any credit union would essentially involve granting the NCUA an interest free loan for a few years."
"The voluntary nature of the program could also pose a "free rider" issue, where all credit unions could benefit from reductions in assessments in the short term at the expense of the subset of credit unions that voluntarily participate..."
Questions From Your Board:
Q: You are proposing an interest free loan to NCUA? A: Yes!
Q: Why not an interest free loan to our struggling member-owners? A: Well, ....
Q: Is a voluntary interest free loan in keeping with our fiduciary responsibility? A: Well ....
Questions From Your CPA:
Q: Are you sure this is a "pre-paid expense"? A: NCUA says so!
Q: Doesn't it look like a troubled debt restructuring(TDR): "Condition where a lender grants a concession to a borrower in financial difficulty"? A: Well, ....
Questions From Your Members:
Q: What the #!X&**! ......??!!! A: Well, ....
Questions From A Sense Of Outrage:
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